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NFT influencers who disappeared in the bear market
NFT influencers play an important role in the NFT space, especially on Twitter. Recently, however, more and more NFT influencers have simply disappeared. Popular accounts such as @crypto888crypto, the creator of the 888 Inner Circle, and @NFTethics, the NFT project’s exhibitors, are no longer active in the space. There are others, and due to the bear market, they won’t be the last to go from tweeting about NFTs daily to having an inactive account.
The bear market has seen a decline in NFT influences
It is hard to ignore that we are currently in a Crypto/NFT bear market. Since the start of the year, Bitcoin and ETH have fallen over 50% in price. Because they are by far the two largest cryptocurrencies, this has had a massive impact on the overall market.
Significantly, more than 90% of NFTs live on the Ethereum blockchain. This is great for ETH during a bull run, but now as crypto struggles, the effect is huge.
Now, because people have seen their assets fall in price, fewer are buying NFTs. NFT influencers can no longer tweet about NFTs and expect hundreds of replies and retweets.
Significantly, there have also been several high-profile NFT influencers who have used their followers for profit and even conducted or participated in dubious campaigns and scams through “shilling” and other methods.
However, most of these people are genuine and trying to promote NFTs, artists and technology.
NFT Influencer NFT Ethics is no longer active on Twitter
As NFT security became a major concern, NFT Ethics received a significant follow-up this year. They described their role in the community as “Uncovering inconvenient truths about this digital realm and its most influential players to address the ethical issues and foundations of Web3”, and they were known for in-depth research on NFT projects.
No one was safe, and NFT Ethics raised serious questions about the role of fraudsters and high-profile NFT influencers in the space.
The end of NFT scams?
However, since May 17, NFT Ethics has not sent a single tweet. It is unclear if they will return or if they lost access to the account.
But with over 85 thousand followers and a background in raising the NFT project’s red flag, it’s something of a loss for the NFT community. Unfortunately, fraud still exists and many others in the community are working hard to expose fraudsters.
What happened to NFT influencer 888?
Another of the NFT influencers missing from Twitter is popular NFT creator @crypto888crypto.
NNFT detective and ‘on-chain scout’ @ZachXBT has raised serious questions about 888 and his many NFT projects. In a Twitter thread yesterday, ZachXBT stated: “888 made $13m+ on 3 NFT projects over 6 months and has been missing on Discord since March and on Twitter since May. Rip to all these holders.”
888 has not tweeted since May. That is, until yesterday, shortly after Zach’s thread came out. 888 tweeted saying they are going through “personal issues” but will be back online soon.
Taking care of your mental health and the people around you is incredibly important. NFTs should always be secondary to ensuring you and your family are healthy. However, the quote tweets suggest that not everyone is convinced by 888’s tweet and its timing.
NFT influencers are here to stay!
Popular characters will appear as long as NFTs are popular on social media platforms such as Twitter. Another question is whether NFT influences are a force for good or not in the NFT community.
Of course, as with all walks of life, some people will always take advantage of their followers. But for everyone like that, there are hundreds of people working to ensure that the NFT space is welcoming, inclusive, safe and fair.
